Vancouver Resident Gets Sentenced to U.S. Jail for Unlicensed Bitcoin Trading

Louis Ong, a Vancouver-based bitcoin trader, has been sentenced to 20 days in a U.S jail for unlicensed cryptocurrency trading. Ong was apprehended as part of a sting operation by Federal agents. Apart from jail time, Ong must also forfeit about $1.1 million worth of bitcoin and cash. The Sting Operation Ong first appeared on the Department of Homeland Security’s (DHS) radar in 2016 after he posted an online ad about his bitcoin trading business.

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